Opportunity Zones Approved for City of Greenville Opportunity Zones are a new community development program established by Congress as a part of the Tax Cuts and Jobs Act of 2017 and are designed to encourage long-term private investments in low-income communities. This program provides a federal tax incentive for taxpayers who reinvest unrealized capital gains into "Opportunity Funds," which are specialized vehicles dedicated to investing in low-income areas called Opportunity Zones.
The zones are designated by the governor and are comprised of low-income community census tracts. Twenty-five percent of SC's qualifying census tracts were designated as Opportunity Zones. Qualifying zones are based on the U.S. Census Bureau's 2011-2015 American Community Survey.
Although regulations and guidelines have not been released, four census tracts have been approved within the city of Greenville:
CT 5: Includes portions of Sterling, Green Avenue and Greater Sullivan neighborhoods and Dunbar Street.
CT 7: Includes Southernside, West Greenville and Haynie-Sirrine neighborhoods as well as Unity Park and portions of Academy Street.
CT 8: Includes West Greenville and the Village of West Greenville.
CT 43: Includes the Nicholtown neighborhood and portions of Laurens Road and S. Pleasantburg Drive.